Published: 17 March 2026 | 6.16 AM
Last Updated: 17 March 2026 | 5.00 PM
IPO Overview
Sai Parenteral’s Ltd. is launching a book-building IPO comprising a fresh issue aggregating to approximately Rs. 285.00 crore along with an offer for sale of 0.32 crore shares. The IPO opens for subscription on Tuesday, March 24, 2026 and closes on Friday, March 27, 2026. The allotment is expected to be finalised on Monday, March 30, 2026, and the shares are proposed to be listed on BSE and NSE with a tentative listing date of Thursday, April 2, 2026.
Sai Parenteral’s IPO is a mainboard IPO offering exposure to the pharmaceutical formulations and CDMO (Contract Development and Manufacturing Organisation) segment in India.
Sai Parenteral IPO Key Highlights
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IPO Date: 24–27 March 2026
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Listing Date: 2 April 2026
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Issue Size: Rs. 285.00 crore + OFS
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Business: Pharma formulations + CDMO services
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Face Value: Rs. 5 per share
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GMP: Yet to start
| Particular | Details |
|---|---|
| IPO Size | Fresh Issue up to Rs. 285.00 crore + OFS of 0.32 crore shares |
| Business | Pharmaceutical formulations and CDMO services |
| Network | Domestic distribution + exports to regulated and semi-regulated markets |
| Key Risk | Regulatory compliance, export dependency, and margin pressures |
| Chanakya View | Diversified pharma player with CDMO focus; valuation comfort will be key |
| Particular | Details |
|---|---|
| IPO Date | 24–27 March 2026 |
| Price Band | To be declared |
| Lot Size | To be declared |
| Issue Size | Rs. 285.00 crore + OFS |
| Listing Date | 2 April 2026 |
Sai Parenteral IPO Investment Summary
Strength: CDMO growth + export expansion
Risk: Regulatory + margin pressure
Verdict: Watch valuations
👉 GMP | Reviews | Subscription | Allotment | Financials | Registrar | FAQ
👉 Latest Sai Parenteral’s IPO GMP, subscription status, financials, valuation and Chanakya review explained below.
Sai Parenteral’s IPO GMP – Latest Update
| GMP | Estimated Listing Price | Expected Gains |
|---|---|---|
| 0 | To be updated | To be updated |
Grey Market Premium (GMP) indicates the estimated listing sentiment based on unofficial market demand and may change frequently.
Sai Parenteral’s IPO Subscription Status – Live Update
| Category | Subscription |
|---|---|
| QIB | To be updated |
| NII | To be updated |
| Retail (RII) | To be updated |
| Total | To be updated |
👉 GMP | Reviews | Subscription | Allotment
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IPO Details at a Glance
| Particulars | Details |
|---|---|
| IPO Opening Date | Tuesday, 24 Mar 2026 |
| IPO Closing Date | Friday, 27 Mar 2026 |
| Listing Date (Tentative) | Thursday, 2 Apr 2026 |
| Face Value | Rs. 5 per share |
| Price Band | To be declared |
| Lot Size | To be declared |
| Issue Type | Book Building IPO |
| Sale Type | Fresh capital cum OFS |
| Total Issue Size | Fresh Issue Rs. 285.00 crore + OFS |
| Fresh Issue | Shares aggregating up to Rs. 285.00 crore |
| Offer for Sale | 31,57,880 shares |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 3,69,08,823 shares |
| Share Holding Post Issue | To be declared |
IPO Timetable
| Event | Date |
|---|---|
| IPO Opens | Tue, Mar 24, 2026 |
| IPO Closes | Fri, Mar 27, 2026 |
| Allotment | Mon, Mar 30, 2026 |
| Refunds | Wed, Apr 1, 2026 |
| Credit of Shares | Wed, Apr 1, 2026 |
| Listing | Thu, Apr 2, 2026 |
Reservation
| Category | Shares Offered |
|---|---|
| QIB | Not more than 50% of the Net Offer |
| NII | Not less than 15% of the Net Offer |
| Retail | Not less than 35% of the Net Offer |
Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | To be declared | To be declared | To be declared |
| Retail (Max) | To be declared | To be declared | To be declared |
| S-HNI | To be declared | To be declared | To be declared |
| B-HNI | To be declared | To be declared | To be declared |
Company Details
Incorporated in 2001, Sai Parenteral’s Ltd. is a diversified pharmaceutical formulations company engaged in research, development and manufacturing.
The company operates in two segments: branded generic formulations and CDMO services for domestic and international markets.
Sai Parenteral’s product portfolio spans therapeutic areas such as cardiovascular, neuropsychiatry, anti-diabetic, respiratory, antibiotics, gastroenterology and dermatology. The company manufactures across dosage forms including injectables, tablets, capsules, liquid orals and ointments.
The company entered export markets in FY 2023 and currently supplies to Australia, New Zealand, Southeast Asia, the Middle East and Africa. It operates five manufacturing facilities in India, including WHO-GMP, PIC/S and TGA-Australia accredited units.
As of December 31, 2025, Sai Parenteral’s Ltd. had 298 employees.
Competitive Strengths
• Diversified generic formulations player with established track record
• Accredited manufacturing facilities supporting exports
• Strong focus on CDMO segment
• Established domestic and international distribution network
• Track record of acquisitions
• Experienced promoter group
Financials
| Particulars | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 376.24 | 272.39 | 268.10 | 133.96 |
| Total Income | 89.43 | 163.74 | 155.18 | 97.03 |
| EBITDA | 16.24 | 39.44 | 31.70 | 17.64 |
| Profit After Tax | 7.76 | 14.43 | 8.42 | 4.38 |
| Net Worth | 209.37 | 95.78 | 76.40 | 31.49 |
| Total Borrowings | 76.07 | 93.95 | 118.79 | 68.55 |
Amount in Rs. crore
Sai Parenteral’s has shown steady growth in profitability, with PAT increasing from Rs. 4.38 crore in FY23 to Rs. 14.43 crore in FY25. Borrowings reduced from Rs. 118.79 crore in FY24 to Rs. 76.07 crore as of September 2025, indicating improving balance sheet strength.
Valuation
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 5.13% | 16.82% |
| ROCE | 9.28% | 28.92% |
| RoNW | 5.09% | 15.09% |
| PAT Margin | 8.93% | 8.88% |
| EBITDA Margin | 18.68% | 24.18% |
| Particular | Pre IPO | Post IPO |
|---|---|---|
| EPS (Rs.) | 3.91 | To be declared |
| Promoter Holding | 61.23% | To be declared |
| Market Cap | To be declared | To be declared |
Chanakya View
Sai Parenteral’s operates in the pharmaceutical formulations and CDMO segment, which is witnessing increasing outsourcing demand and export-driven growth.
The company benefits from diversified product offerings, accredited manufacturing facilities and entry into regulated export markets. Its CDMO focus provides a scalable growth opportunity in the medium term.
Financials indicate improving profitability and reduction in debt levels, which supports balance sheet strength. However, regulatory risks, export dependency and margin volatility remain key concerns.
Overall, Sai Parenteral’s IPO provides exposure to a growing pharma player with CDMO potential. Investment decision should depend on valuation comfort after price band announcement.
Chanakya View: Neutral to Positive. Investors may track valuation and subscription momentum before taking a call.
Company Address
| Particular | Details |
|---|---|
| Address | Plot No 39, 5th Floor, Lavanya Arcade, Jayabheri Enclave |
| Area | Gachibowli |
| City | Hyderabad |
| State | Telangana |
| Pincode | 500032 |
| Phone | +91 79979 91301 |
| cs@saiparenterals.com |
IPO Lead Manager
| Lead Manager |
|---|
| Arihant Capital Markets Ltd. |
IPO Registrar
| Registrar | Contact |
|---|---|
| Bigshare Services Pvt. Ltd. | +91-22-6263 8200 |
| ipo@bigshareonline.com |
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Disclaimer
This coverage is for informational and educational purposes. Chanakya Ni Pothi does not deal in Grey Market Premiums or recommend investments based on GMP data. Please consult your SEBI-registered investment advisor.
Sai Parenteral’s IPO GMP today is currently not available as grey market activity has not started yet.
Sai Parenteral’s IPO price band is yet to be announced by the company.
Sai Parenteral’s IPO lot size will be declared along with the price band.
Sai Parenteral’s IPO is expected to list on BSE and NSE on April 2, 2026.